Rhumbline Advisers Sells 1,304 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Rhumbline Advisers lowered its position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,886 shares of the real estate investment trust's stock after selling 1,304 shares during the quarter. Rhumbline Advisers owned 0.20% of Essex Property Trust worth $36,218,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ESS. ABC Arbitrage SA acquired a new stake in shares of Essex Property Trust in the fourth quarter valued at about $2,082,000. Asset Management One Co. Ltd. raised its stake in Essex Property Trust by 0.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 132,317 shares of the real estate investment trust's stock worth $37,635,000 after acquiring an additional 416 shares in the last quarter. Consolidated Planning Corp lifted its holdings in Essex Property Trust by 30.8% during the 4th quarter. Consolidated Planning Corp now owns 2,083 shares of the real estate investment trust's stock valued at $595,000 after purchasing an additional 491 shares during the last quarter. Certuity LLC bought a new stake in Essex Property Trust during the 4th quarter worth approximately $225,000. Finally, Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Essex Property Trust in the fourth quarter valued at $208,000. 96.51% of the stock is owned by institutional investors and hedge funds.

Essex Property Trust Trading Up 0.0 %

Shares of Essex Property Trust stock traded up $0.06 during trading on Friday, reaching $294.47. 456,277 shares of the stock were exchanged, compared to its average volume of 478,285. Essex Property Trust, Inc. has a 1 year low of $225.40 and a 1 year high of $317.73. The firm has a market cap of $18.92 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 6.77 and a beta of 0.92. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.15. The stock's fifty day moving average is $285.01 and its 200 day moving average is $292.81.

Essex Property Trust (NYSE:ESS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $2.52. Essex Property Trust had a return on equity of 13.05% and a net margin of 41.79%. As a group, equities research analysts expect that Essex Property Trust, Inc. will post 15.96 earnings per share for the current fiscal year.

Essex Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $2.57 per share. The ex-dividend date is Monday, March 31st. This is a positive change from Essex Property Trust's previous quarterly dividend of $2.45. This represents a $10.28 annualized dividend and a dividend yield of 3.49%. Essex Property Trust's payout ratio is currently 84.92%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Evercore ISI raised their target price on shares of Essex Property Trust from $297.00 to $302.00 and gave the company an "in-line" rating in a research note on Monday, February 10th. Wells Fargo & Company lowered their price target on Essex Property Trust from $314.00 to $305.00 and set an "equal weight" rating for the company in a report on Friday, January 24th. Mizuho cut their price objective on Essex Property Trust from $325.00 to $300.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised Essex Property Trust from a "hold" rating to a "buy" rating and increased their target price for the stock from $308.00 to $310.00 in a research note on Tuesday, January 21st. Finally, Barclays raised their target price on shares of Essex Property Trust from $302.00 to $304.00 and gave the stock an "equal weight" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $306.63.

Essex Property Trust Company Profile

Essex Property Trust, Inc, an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.